Dominion Marine have managed the administration of our busy classic yacht for 17 years. They are friendly, attentive and a pleasure to work with.Beneficial Owner, Classic Motor Yacht
Dominion Marine (Cyprus) Limited (DMC), is incorporated in Cyprus and provides corporate services to our clients wishing to own their yachts through the Cypriot Leasing structure or in a commercial charter structure.
The advantages of the Cyprus yacht leasing set-up include:
- VAT is paid over a chosen period of time (the minimum being 3 months)
- The VAT rate is between 3.8% and 11.4% depending on the size of the yacht and is paid quarterly to the Cypriot authorities
- Once the structure is set up an initial payment of 40% of the VAT due must be paid together with the first VAT
- Remaining VAT payments are then made on a quarterly basis.
- All expenses relating to the running of the yacht are the responsibility of the lessee